ADUK Archive

I just bought a new toy, but had not anticipated that my insurers would not be able to just add it to my policy - they are suggesting to create a new policy separately for the old car, and change the existing policy for the new car, so that I get the maximum benefit of the no claims discount.

The total is substantial, but I don't see why - I can't drive both cars at once!

Apart from Admiral, who I've checked on their multi car policy, is there some other way I can get round this?

One idea was for the toy to replace my partners policy, and for us to drive her car with just third party cover - I think we are covered for that, but I'd need to check.

Any other ideas?

Mark

I read on st forum the other day that you can clone your no claims as long as both cars are just for u and maybe your wife to drive I can ask the guy direct if you like? So try that route by ringing some insurers.

What did you get the s2000??? Good to see u on sunday!

If your 2nd car is a bit special in some way (eg classic, future classic, competition car etc), there are specialists around that will allow you to mirror your NCB on the 2nd policy. It won't accrue any new ones, but will get you a more sensible quote. If you have more cars than drivers in your household now, there are some companies around that will also do mini-fleet policies too - eg:
http://www.heritage-quote.co.uk/multi-car-policy.cfm

Thanks guys
JB - yes please ask him. It's an MX5 Mark 2.5, 1.8i - it's Orange!

Custom24 wrote:..One idea was for the toy to replace my partners policy, and for us to drive her car with just third party cover - I think we are covered for that, but I'd need to check...Mark

Do you mean that you will use a driving other car extension? If so, I think you'll find that driving a vehicle owned by yourselves is excluded.

You could try a modern classic policy - best place to start would be the owners club forums.

Yes you are right - I realised that afterwards. Doh!

Custom24 wrote:Thanks guys
JB - yes please ask him. It's an MX5 Mark 2.5, 1.8i - it's Orange!

Will do mate!!

Very nice are you going to dave turner-rise it????

Multi vehicle policies are common place in the motorcycling world. I have a policy with Norwich Union with four motorcycles on it. It does seem strange if they don't do the same for cars.

Red Herring wrote:Multi vehicle policies are common place in the motorcycling world. I have a policy with Norwich Union with four motorcycles on it. It does seem strange if they don't do the same for cars.

It is not unusual for a bike enthusiast to have more than one bike. The same is not the case for cars (with the exception of classic, of course).

Lack of demand makes it more difficult to correctly calculate the relative level of risk associated with such policies with any acceptable degree of statistical confidence. The other problem with multi-car policies is that they are often used to (fraudulently) obtain insurance for vehicles being mainly used by teenage children.

Hence you will find that for the time being these policies are usually only offered by prestige/classic insurance specialists or where the premiums are already a bit inflated. This can of course change in response to market demand.

Multi car policies are common the continent, but not in the UK, although as you note, of the big retail insurers Admiral are now advertising a policy.

However, there are some excellent multi car policies available from some of what I will call the "high end" insurers, such as Chubb, Hiscox and Zurich.

I have a Chubb Masterpiece policy. I select one car as my "principal" car, and then the other cars are for occasional use. The premium is remarkably good (around 1.5-2% of each car's value). The real benefit is the level of cover, which is superb. For example, all cars are insured for an agreed value; I can drive anyone else's car fully comprehensive; anyone car drive my cars fully comprehensive; and full breakdown cover (the service is way better than normal).

The other benefit is that they assess risk without reference to no claims (there is no such thing on this policy). Making a claim does not automatically increase your premium - it just gets taken into account, along with all the other factors, when the underwriter assesses the premium. What I do each year is prepare a spreadsheet showing the values of each car, the mileage I have driven them over the past 2 years and plan to drive for the current year, where they are kept, security systems (eg, trackers), details of my driving history (including qualifications) and any claims / incidents. It is reassuring to know that an underwriter, not a computer, then assesses the premium.

Zurich and Hiscox offer similar polices.

The only issue is that these policies are not competitive in price terms for one car (indeed they often won't insure for just one car unless it is high value). However, if you bundle in house insurance (again typically more expensive than the high street, but way better cover) it can work with a lower value car.

Having previously had to pfaff about with several individual policies, different renewal dates, keeping track of NCB etc. it is a real joy to be insured with a highly professional company who just make the renewal process so easy. And when I have had to claim (non fault, I hasten to add!), they could not have been better.

Recommended without hesitation.

Kind regards

Steve

Thanks Steve
I picked up the new car today, so in my "haste" to get it covered (took most of the morning), I went with Admiral and we have all three cars insured with them now.

I'm having too much fun with my new toy to worry about it now!

Mark